19/12/2024
Elevation Advisors LLP (“Elevation”) is pleased to announce that Elevation Healthcare Properties (“EHP”), a real estate fund advised by Elevation, has completed the acquisition of land and agreed forward-funding to support the development of three new high-quality care homes in Bridlington, New Waltham and York with Yorkare Homes (“Yorkare”). The homes are pre-let to Yorkare on completion, a new operator relationship for EHP.
Yorkare are a highly-regarded, family-owned, regional operator and developer with twelve care homes in operation, which they have developed to an exceptional standard with award-winning designs. Yorkare have a strong reputation as an operator and 100% of their operating homes are CQC rated as ‘Good’ or ‘Outstanding’.
These latest purpose-built care homes, comprising 190 beds in total, have been designed with a high-standard all-wetroom specification and incorporate some of the latest sustainable design and technology features including solar panels and high-efficiency equipment for heating, hot water and water fixtures. These design features aim to help target an EPC ‘A’ rating for each of the assets and once completed, the homes will be certified under ‘BREEAM In-Use’ and are expected to achieve an ‘Excellent’ rating. The homes will also deliver a positive social contribution by reducing the level of undersupply of quality care beds in their local communities as well as providing approximately 70 employment opportunities per home.
Laurence Garton, Development Director at Yorkare said: “We are delighted to be working with Elevation again as we continue to expand our portfolio of award-winning care homes. Our commitment to excellence in care has put us in the top 2% of care home providers in the UK in terms of Outstanding CQC ratings, and these three new sites will enable us to expand our provision of high standard care environments for our residents, staff, and local communities. We look forward to working with Elevation as we continue to expand our operational footprint.”
James Giles, Investment Director at Elevation said: “We are delighted to continue our partnership with Yorkare who are an outstanding operator, with high-quality assets and exceptional care credentials. This transaction is testament to the successful alignment of EHP with its stakeholders, fulfilling the market need for high-quality elderly care facilities that make a positive contribution to their communities. We are excited to support Yorkare in the next phase of their growth and are delighted to welcome them to the EHP portfolio.”
Rory Addison, Senior Surveyor at Knight Frank said: “Knight Frank were delighted to assist on this forward fund transaction of three future-proof luxury care homes leased to Yorkare, whose developments continue to be top of the range.”
Yorkare Homes is an award winning care home provider based in East Yorkshire. As a family owned company, with over 30 years’ experience operating care homes, we aim to provide the highest quality care in luxury environments. This is reflected by our numerous Outstanding ratings from CQC and the 5 Best New Care Home in the UK awards we received at the prestigious Pinders Healthcare Design Awards in London.
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Disclaimer
This press release is issued by Elevation Advisors LLP, which is authorised and regulated by the Financial Conduct Authority. The information contained herein is provided for informational purposes only and does not constitute investment advice, an offer to buy or sell any financial instrument, or a solicitation of any kind. Past performance is not a reliable indicator of future results. Any forward-looking statements or projections are based on current assumptions and subject to risks and uncertainties that may cause actual outcomes to differ materially. This communication is intended solely for professional clients and eligible counterparties as defined by the FCA. It is not directed at retail clients and should not be relied upon by any person who does not meet the criteria for professional client classification. Investments may involve significant risk, including the potential loss of capital. Recipients should seek independent financial advice before making any investment decisions. While reasonable care has been taken to ensure the accuracy of the information provided, Elevation Advisors LLP makes no representation or warranty as to its completeness or reliability and accepts no liability for any loss arising from reliance on it.